________ Are Groups of Health Care Providers That Contract with Employers

question 46

Multiple Choice

________ are groups of health care providers that contract with employers, insurance companies, or third-party payers to provide medical care services at a reduced fee.

• A)PPOs
• B)HMOs
• C)DMOs
• D)ADDs

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Definitions:

Producer Surplus

Producer surplus is the difference between what producers are willing to accept for a good or service and what they actually receive due to higher market prices.

Tariff

A tax imposed by a government on imported or exported goods, often used to protect domestic industries or to generate revenue.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and the actual price they pay.

Comparative Advantage

Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, underpinning international trade theory.